CVS Health Q3 revenue tops $108 billion after 5.4% gain
Key points
- CVS Health reported third-quarter 2026 revenue of $108.4 billion, up 5.4% year over year, exceeding analysts' $104.75 billion estimate.
- Adjusted earnings reached $2.09 per share, beating the $1.65 consensus, while GAAP diluted earnings recovered to $1.68 from a $3.13 loss.
- CVS raised its full-year adjusted EPS guidance to at least $8.20 and announced plans to separate its retail pharmacy business from its insurance and pharmacy benefit operations.
CVS Health (NYSE:CVS) reported third-quarter 2026 revenue of $108.4 billion, up 5.4%, while adjusted earnings exceeded Wall Street expectations.
Revenue increased from $102.9 billion, exceeding analysts' $104.75 billion forecast, while adjusted earnings reached $2.09 per share against $1.65 expected.
GAAP earnings reached $1.68 per share, reversing a $3.13 loss, while operating income recovered to $3.57 billion from a $3.21 billion loss.
CVS raised its 2026 adjusted earnings forecast to at least $8.20 per share and operating cash flow guidance to at least $15.5 billion.
The company announced plans to separate its retail pharmacy operations into a publicly traded business, with the transaction targeted for early 2028.
Under the proposed structure, Aetna, Caremark and healthcare services operations would remain with CVS Health, while approximately 9,000 retail pharmacies would form a separate company.
